The Hong Kong Insurance Authority welcomed the passage of legislative amendments that will implement a company re-domiciliation regime, intended to provide a simple and cost-effective framework for companies seeking to re-domicile to Hong Kong. The Companies (Amendment) (No. 2) Bill 2024 is positioned as particularly relevant for authorized insurers incorporated outside Hong Kong but with a prominent local presence, with the authority pointing to the market’s connectivity within the Guangdong-Hong Kong-Macao Greater Bay Area. The Insurance Authority plans to work with relevant parties to enable interested insurers to kick-start their re-domiciliation process under the new regime.
Hong Kong Insurance Authority 2025-05-14
Hong Kong Insurance Authority welcomes passage of legislation establishing a company re-domiciliation regime
The Hong Kong Insurance Authority announced legislative amendments to establish a company re-domiciliation regime, offering a streamlined framework for insurers relocating to Hong Kong. The Companies (Amendment) (No. 2) Bill 2024 targets insurers incorporated outside Hong Kong with significant local operations, emphasizing regional connectivity. The Authority will collaborate with stakeholders to facilitate the re-domiciliation process.